{"id":8166,"date":"2024-11-09T04:24:31","date_gmt":"2024-11-09T04:24:31","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/11\/09\/galaxy-entertainment-group-sees-growth-with-strong-q3-results-and-expansion-plans\/"},"modified":"2024-11-09T04:24:31","modified_gmt":"2024-11-09T04:24:31","slug":"galaxy-entertainment-group-sees-growth-with-strong-q3-results-and-expansion-plans","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/11\/09\/galaxy-entertainment-group-sees-growth-with-strong-q3-results-and-expansion-plans\/","title":{"rendered":"Galaxy Entertainment Group Sees Growth with Strong Q3 Results and Expansion Plans"},"content":{"rendered":"<div>\n<p>Galaxy Entertainment Group (GEG) reported steady growth in the third quarter, with net revenues increasing by 11% year-on-year to HK$10.7 billion ($1.38 billion), although they experienced a slight 2% dip compared to the previous quarter. Despite the quarterly decrease, GEG\u2019s performance reflects a solid standing in the Macau gaming market.<\/p>\n<p>Adjusted EBITDA for the quarter rose by 6% year-on-year, reaching HK$2.9 billion ($373 million). However, quarter-on-quarter earnings dropped 7% due to \u201cunlucky\u201d outcomes. GEG\u2019s chairman, Lui Che Woo, commented that the company\u2019s financial position remains strong, with liquidity that supports both international expansion and local development.<\/p>\n<p>GEG continues its extensive Phase 4 development at Galaxy Macau, a project covering 600,000 square meters and estimated at HK$43 billion. The project includes new luxury hotels, a 4,000-seat theater, a water resort deck, and an additional casino. One of the main attractions, the Capella hotel, is set to open in 2025.<\/p>\n<p>Lui noted that Macau\u2019s Golden Week holiday saw high visitor numbers, which could signal strong Q4 performance. During the seven-day holiday, Macau welcomed 993,117 visitors, almost reaching pre-pandemic levels with daily average arrivals close to 102% of those figures. Hotel occupancy rates were also high, with Galaxy Macau hotels at 98% and a citywide average of 95%.<\/p>\n<p>According to Macao News, Galaxy Macau brought in HK$8.4 billion in revenue, while StarWorld Macau and Broadway Macau contributed HK$1.3 billion and HK$62 million, respectively. Occupancy at Galaxy Macau\u2019s seven hotels averaged 98% from July to September, outperforming the overall city rate.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/7-bit-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"7Bit Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/7BitCasino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/7-bit-casino\/\" title=\"7Bit Casino\" target=\"_blank\" rel=\"nofollow noopener\">7Bit Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>177% up to 5BTC + 77 <strong>\u00a0Free Spins<\/strong>!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 177% + 77 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/7-bit-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>macaTo support its international tourism goals, GEG recently opened an overseas business office in Bangkok, adding to its presence in Tokyo and Seoul. The company\u2019s expansion efforts reflect a strategy to attract a broader audience as Macau grows as a global gaming hub.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/galaxy-entertainment-group-sees-growth-with-strong-q3-results-and-expansion-plans\/\">Galaxy Entertainment Group Sees Growth with Strong Q3 Results and Expansion Plans<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Galaxy Entertainment Group (GEG) reported steady growth in the third quarter, with net revenues increasing by 11% year-on-year to HK$10.7 billion ($1.38 billion), although they experienced a slight 2% dip compared to the previous quarter. Despite the quarterly decrease, GEG\u2019s performance reflects a solid standing in the Macau gaming market. Adjusted EBITDA for the quarter [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-8166","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=8166"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8166\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}